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S&P Credit Research821 word report
published Sep 29, 2008
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S&P Credit Research
| Abstract: | LONDON (Standard&Poor's) Sept. 29, 2008--Standard&Poor's Ratings Services said today that it lowered its long- and short-term foreign currency sovereign credit ratings on the Republic of Iceland to 'A-/A-2' from 'A/A-1', and its local currency sovereign credit ratings to 'A+/A-1' from 'AA-/A-1+'. In addition, the long-term ratings were placed on CreditWatch with negative implications. Furthermore, the transfer and convertibility assessment on Iceland was lowered to 'AA-' from 'AA'. At the same time, Standard&Poor's also lowered its foreign currency ratings on Ibudalanasjodur (Housing Financing Fund), the government-owned enterprise for housing finance, to 'A-/A-2' from 'A/A-1', and its long-term local currency rating to 'A' from 'A+'. The short-term local currency rating of 'A-1' was affirmed. The long-term
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| Brief Excerpt: | RESEARCH Ratings Definitions Republic of Iceland Cut To FC 'A-/A-2', LC 'A+/A-1' On Support For Glitnir Bank; On Watch Neg Publication date: 29-Sep-2008 Primary Credit Analyst: Eileen X Zhang, CFA, London (44) 20-7176-7105; eileen_zhang@standardandpoors...
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| Report Type: | Ratings Action
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| Ticker: | 1171Z@IR
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| Issuer: | Iceland (Republic of)
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| Sector: | Global Issuers, Sovereigns, Utilities
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| Country: | Iceland
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| Region: | Europe, Middle East, Africa
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| Free Sample: |
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S&P Credit Research provides analysis on issuers and debt obligations of corporations, states and municipalities, financial institutions, insurance companies and sovereign governments. S&P also offers insight into the credit risk of structured finance deals, providing an independent view of credit risk associated with a growing array of debt-securitized instruments.
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On Oct. 6, 2008, Standard&Poor's Ratings Services lowered its foreign currency sovereign credit rating on the Republic of Iceland to 'BBB/A-3' from 'A-/A-2' and its local currency sovereign credit rating to 'BBB+/A-2' from 'A+/A-1'. At the ...
- Research Update: Republic of Iceland Cut To FC 'A-/A-2', LC 'A+/A-1' On Support For Glitnir Bank; On Watch Neg $175.00
On Sept. 29, 2008, Standard&Poor's Ratings Services lowered its long- and short-term foreign currency sovereign credit ratings on the Republic of Iceland to 'A-/A-2' from 'A/A-1', and its local currency sovereign credit ratings to 'A+/A-1' ...
- Bulletin: Strengthened Foreign Exchange Access By Republic of Iceland Has No Immediate Effect On Ratings $100.00
LONDON (Standard&Poor's) May 16, 2008--Standard&Poor's Ratings Services said today that the strengthening of access to foreign exchange by the Republic of Iceland (foreign currency A/Negative/A-1, local currency AA-/Negative/A-1+) would have ...
- Summary: Iceland (Republic of) $175.00
The ratings on the Republic of Iceland reflect the mounting economic policy challenges facing the sovereign, largely related to pressure on Iceland's external funding for the nation's commercial banks. Iceland's banks rely on wholesale funding, ...
